You're reading: Ukraine’s DTEK signs contract for electricity supplies to Russia

DTEK, Ukraine's biggest private vertically integrated energy holding, has signed a framework agreement with Russia's INTER RAO UES for electricity supplies to Russia, DTEK said in a statement.

Under the agreement DTEK will have the ability to start cross-border power supplies to INTER RAO via cross-border electricity transmission lines between the Ukrainian and Russian grids to provide for the best utilization of power plants in both countries.

“We are happy to initiate cooperation with INTER RAO UES, the leader in the Russian power market. This agreement opens a new chapter in the history of cooperation between our companies. Furthermore, DTEK has started a new era in the history of the Ukrainian power industry: as of today, after a long break, our country is supplying electricity to all neighboring countries where such deliveries are technologically possible. The growth of Ukrainian electricity exports facilitates the development of Ukrainian generation and coal industries,” said DTEK Commercial Director Andriy Favorov.